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Sheffield, TAS 7306

Home » TAS Real Estate Data » Kentish Council, TAS » Sheffield, TAS 7306

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Sheffield, TAS 7306 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

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Yield 

1BR

2BR

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Sheffield, TAS 7306”

  1. The total adult population (15 years or older) of Sheffield 7306 TAS is 1,397, with a median age of 54. Of those, 47.46% are married, 15.39% are divorced or separated, 28.20% are single and 8.88% are widowed.

    The average household size is 2.1 people per dwelling, and the median household monthly income is estimated to be $5,436. The median monthly mortgage repayment for households in this suburb is $1,000 which is 18.40% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in Tasmania, the tranquil suburb of Sheffield 7306 is home to approximately 933 households. As we journey into the third quarter of 2023, the typical house prices within the suburb stands at $491,428. This, coupled with the median weekly rent of $345, spurs an indicative yield of 3.65% – a reasonably favourable figure, particularly for investors primarily concerned about cashflow.

    The socio-economic landscape reflected by an IRSAD score of 875/1217 indicates this suburb is moderately attractive, suggesting inhabitants generally enjoy acceptable economic access and maintain fairly skilled professions. This narrative is suggested by the 23% renter to owner ratio that clearly falls within the favourable range of 30% and below, signifying room for potential returns and less intense competition with landlords.

    When it comes to the type of dwellings, investors need not be concerned about over-saturation of rentals as the units to houses ratio is favourably low at 2%. This imbalance leans noticeably towards houses, points towards diminished competition for tenants and potentially longer tenancies, predominantly by families.

    However, potential investors should be cautious about the affordability index which sits at 35 years. Although this exceeds the ideal threshold of 31 years, it’s crucial to mention that other factors may offset this metric’s impact.

    The Sheffield property market shows compelling evidence of supply shortages, with a stock on market Percentage recorded at a favourable 0.11% and a strikingly low inventory level of 0.38 months. Furthermore, the building approvals Ratio is parsimoniously at 0.11%, indicating few new house constructions are earmarked for the near future.

    Whilst the days on market figure is notably high at 198 days, suggesting a slight softness in demand, the vacancy rate for combined houses and units at 2.76% points towards neutral demand. This is further emphasised by the Buy Search Index, coming in at 3, a value that indicates a fairly balanced equilibrium between supply and demand.

    In conclusion, the suburb of Sheffield 7306, while showcasing some unfavourable metrics such as ‘Years to Own’ and ‘Days on Market’, displays a landscape with many favourable aspects like yield, IRSAD score, renter to owner ratio and supply. It’s essential to examine data trends alongside these metrics, preferably using analytical tools such as HtAG Analytics’ Relative Composite Score (RCS), to make informed investment decisions.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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